What is the payment process for overseas makers?
Last Updated: August 21, 2026
Once a crowdfunding campaign ends, the issue creators are most concerned about is settlement. Wadiz’s settlement process is divided into several stages, beginning with preliminary settlement, and the payment methods and settlement percentages for each stage vary depending on the type of project you are running. Below is a complete explanation for creators holding business licenses in countries other than South Korea.
First, please note: Overseas creators who have officially registered a business license in South Korea—including those collaborating through agencies—are subject to the same settlement methods as South Korean creators. Therefore, this guide is specifically intended for creators who have registered their business licenses in countries other than South Korea.
- Note: Overseas creators—including agencies—that are officially registered with a business license in South Korea are subject to the same settlement procedures as South Korean creators.
▶️ Settlement Methods for Korean Creators
01. Projects submitted on or after June 1, 2026, follow the same settlement method as Korean creators
Overseas creators now follow the same two-stage “advance payment + final settlement” structure as Korean creators. The specific payment percentages and whether fees are charged depend on the project type and the final settlement amount.
| Category | Crowdfunding (Funding) | Pre-sale – Domestic Exclusive | Pre-sale – Special Bundle | Pre-sale – Limited Edition |
|---|---|---|---|---|
| Application Method | Preliminary and final settlements require no separate application and incur no additional fees; payments are automatically made in two installments | Interim settlement payments are made only when a Maker directly applies for the interim settlement service >Interim Settlement Service Application Form When applying, you must submit a business license that exactly matches the registration information for Maker Studio |
||
| Payment Method – Final Settlement Amount Less Than 10 Million KRW | Interim Settlement: 80% of the final settlement amount (after deducting handling fees and other charges) Final Settlement (Post-Settlement): The final settlement amount after deducting refunds and other fees |
Advance Settlement: 60% of the final settlement amount (after deducting handling fees and other charges) Final Settlement (Post-Settlement): The final settlement amount after deducting refunds and other expenses For this project type, a 3% (excluding VAT) advance settlement service fee will be charged on the final settlement amount |
||
| Settlement Method – Final settlement amount of 10 million KRW or more | Advance Settlement: 60% of the final settlement amount (after deducting service fees and other charges) Final Settlement (Post-Settlement): The final settlement amount after deducting refunds and other expenses |
Same as above — Regardless of the final settlement amount, the 60% advance settlement ratio and 3% advance settlement service fee apply | ||
02. Settlements are processed through Stripe or PingPong Payments
The payment processor handling your settlement determines specific details such as the exchange rate calculation method and withdrawal fees.
| Paying Entity | Classification | Description |
|---|---|---|
| PINGPONG | Effective Date of Exchange Rate | Based on the U.S. dollar (USD) exchange rate on the day of the transfer |
| Payee Account | Payments will be remitted to the PingPong Payments account and account number provided at the time of project submission. Be sure to register your PingPong Payments account in Maker Studio in advance. ▶️ How to Register for PingPong Payments |
|
| Withdrawal Methods | Paid funds can be converted to your chosen local currency via PingPong Payments for withdrawal. Once a withdrawal request is submitted, it takes an average of 1–2 business days to complete the review. Withdrawals are subject to a withdrawal fee charged by PingPong Payments based on the country (e.g., 0.4% for China). |
|
| STRIPE | Effective Date of Exchange Rate | The U.S. dollar (USD) exchange rate on the date the settlement statement is issued applies. |
| Funds Transfer | Settlement funds will be transferred to the account provided at the time of project submission and will be credited within 1–2 business days from the payment date. This applies to creators outside of China. |
03. Settlement Process
From the end of the project to the receipt of the final settlement funds, the entire process consists of seven steps, with the completion of shipping and the end of the refund period serving as the two key milestones.
- After the project ends, a preliminary settlement statement will be issued within 5 business days.
- You can also view the settlement statement at any time under the “Maker Studio > Settlement Details” menu.
- After the settlement statement is issued, the preliminary settlement amount will be paid according to the “Settlement Schedule” below.
- Please process shipments via the “Maker Studio > Shipping & Refund Management” menu so that Wadiz can confirm the reward shipment status.
- Final settlement will begin once all rewards have been shipped.
- The final settlement statement will be issued within an average of 12 to 16 business days after the shipment completion date (20 to 24 days for domestic shipments in South Korea).
- After the refund period of 15 days (25 days within South Korea) following the shipment completion date ends, the settlement statement will be issued within 1 business day.
- The settlement statement can also be viewed under the “Maker Studio > Settlement Details” menu.
- After the settlement statement is issued, the final settlement amount will be paid according to the “Settlement Schedule” below.
- Final settlement payments are made in U.S. dollars (USD).
04. Settlement Schedule
Wadiz processes payments weekly for creators registered with a business license in countries outside of South Korea.
All dates listed below are based on Korean Standard Time. If the settlement day (Wednesday) falls on a public holiday, payment will be postponed to the next business day.
- Applicable to:Projects for which settlement statements are issued Monday through Friday
- Payment Date:Wednesday of the week following the issuance of the statement
Settlement Schedule Example
Example 1: Both the order and shipment are completed within South Korea (both the shipping origin and destination are in South Korea)
- May 4, 2026 (Monday): Project completion
- May 11, 2026 (Monday): Preliminary settlement statement issued
- May 20, 2026 (Wednesday): Provisional settlement payment
- June 1, 2026 (Monday): Bonus shipment completed
- June 26, 2026 (Friday): Refund period ends
- June 29, 2026 (Monday): Final settlement statement issued
- July 8, 2026 (Wednesday): Final settlement payment made
Example 2: Orders or shipments involve countries outside of South Korea (either the shipping origin or destination is outside of South Korea)
- May 4, 2026 (Monday): Project completion
- May 11, 2026 (Monday): Preliminary settlement statement issued
- May 20, 2026 (Wednesday): Preliminary settlement payment made
- June 1, 2026 (Monday): Reward shipment completed
- June 16, 2026 (Tuesday): Refund Period Ends
- June 17, 2026 (Wednesday): Final settlement statement issued
- July 24, 2026 (Wednesday): Final settlement payment
📢 Starting June 1, 2026, the advance settlement service policy will apply equally to both Korean and international creators for projects submitted on or after that date.
Creators registered with a business license in a country other than South Korea may also apply for the advance settlement service for presale special bundles and limited-edition projects.
- Korean Makers: Please fill out and submitthe Preliminary Settlement Service Application Form.
- Overseas Makers: Please fill out and submitthe Preliminary Settlement Service Application Form.
- When applying, you must attach a business license that exactly matches the registration information for your Maker Studio.
05. Frequently Asked Questions (FAQ)
Q. If there is a refund, will the settlement amount I receive be reduced?
A. Yes—it will be reduced by the amount of the refund. Since refunds are deducted during the final settlement, you will first receive the full preliminary settlement amount, and the refund amount will only be deducted during the final settlement. To minimize refunds, please write accurate and detailed product descriptions, carefully check the condition of the items before shipping, and clearly communicate the shipping schedule to your backers.
Q. When should I recognize income, and for what amount?
A. Once all shipments and refunds are complete, recognize the income as “the total settlement amount minus the refunded settlement amount.”
To summarize:
- Revenue Recognition Date: The date on which all reward shipments and refunds are completed
- Amount to be recognized as revenue: Total final settlement amount − Refunded settlement amount
Get started right away on Wadiz.
A step-by-step guide from preparation to a successful fundraising campaign—now available on the Wadiz Maker Center.